Reserved Investor Fund
In February 2025, legislation for an unauthorised co-ownership contractual scheme, the Reserved Investor Fund (RIF), and tax regulations for the RIF were laid in Parliament and will come in force in mid-March 2025; more details can be found by clicking here.
RICS Red Book - UK National Supplement 2023 edition
RICS have published a survey to understand how the UK VPS 3 valuation standards, within their 2023 edition of the UK National Supplement to the Global Red Book, are impacting stakeholders and to provide insight into the future direction of RICS. A link to the survey and more about the UK National Supplement can be found here.
FRC - UK Stewardship Code
AREF has responded to the Financial Reporting Council's consultation on significant updates to the UK Stewardship Code.
Law Commission - Landlord and Tenant Act consultations
The Law Commission are reviewing Part 2 of the Landlord and Tenant Act 1954 with a view to modernise commercial leasehold legislation. AREF has responded to their initial consultation on this which considers the right to renew business tenancies.
IOSCO - Liquidity Risk Management Recommendations for Collective Investment Schemes
AREF has responded to IOSCO's consultation on Revised Recommendations for Liquidity Risk Management for Collective Investment Schemes.
UK Green Taxonomy
AREF has submitted a response to HM Treasury consultation on a UK Green Taxonomy. More details can be found here.
ESG Metrics for Real Estate
The reporting principles in the paper on ESG Metrics for Real Estate have been updated in January 2025.
FCA - Product Information Regime
The FCA are consulting on a new product information regime to help consumers understand the investment products they are buying, while giving firms flexibility to innovate. Find out more here.